Business, 24.03.2020 23:56 Chanz2104

David has purchased an investment that he expects to produce an annual cash flow of $3,000 for five years. He requires an 8% rate of return compounded annually. What is the maximum amount that David can pay and still earn the required rate of return?

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David has purchased an investment that he expects to produce an annual cash flow of $3,000 for five...